Canadian home sales fall in August as economic uncertainty grows
New listings rose 3.3% as the Canadian Real Estate Association said rising mortgage rates are expected to curb further market momentum.
- On Tuesday, the Canadian Real Estate Association reported that Canadian home sales fell 0.7% in August as economic uncertainty and increased mortgage rates weighed on activity.
- Rising bond yields and inflation risks have led the Bank of Canada to contemplate rate hikes, with investors pricing in a roughly 60% chance of a benchmark rate increase as soon as October.
- While sales fell, new listings rebounded 3.3% in August, reversing three straight monthly declines, while the national average home price reached $668,219, up 0.6% year-over-year.
- The national sales-to-new listings ratio slipped to 49.1%, moving further below the long-term average of 54.7%, as CREA's Senior Economist Shaun Cathcart noted that sales activity remained largely unchanged for a fourth consecutive month.
- Fresh economic headwinds are expected to dampen housing market momentum heading into 2027, according to the CREA, despite prices remaining largely unchanged month-to-month since the spring.
23 Articles
23 Articles
Canadian home sales fall in August as economic uncertainty grows
While residential sales declined in August compared to the same period last year, the Canadian Real Estate Association (CAI) warns that a new wave of economic hardship threatens to curb market dynamics for the rest of the year.
The Toronto Star
Canadian Home Sales Slide Down Slightly in August
OTTAWA, Ontario, Sept. 15, 2026 (GLOBE NEWSWIRE) -- The number of home sales recorded over Canadian MLS® Systems decreased by 0.7% on a month-over-month basis in August 2026. Monthly activity
The Canadian Real Estate Association (CREA) released new data on September 15th showing that national residential property sales fell 6.9% year-over-year, with Ontario's August sales hitting a 25-year low for that month. CREA stated that 37,504 residential properties were sold nationwide in August, a 6.9% decrease compared to August 2025; seasonally adjusted, this represents a 0.7% decrease compared to July of this year. Sales activity has remai…
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